Following recent U.S. presidential elections, a surge of dissatisfied Americans declare their intention to relocate to Canada, with some even taking steps to research the process of moving north or consulting immigration lawyers for visa applications. Andrew Henderson urges them to reconsider.
Henderson, also known as the Nomad Capitalist online, believes that these individuals lack creativity. Though Canada may appear to be a convenient alternative due to its proximity and shared language with the U.S., the country does not have open borders for immigration. Henderson suggests exploring other options beyond the familiar choice of Canada.
“Why transition from one situation to another similar one?” Henderson states in an interview with Fortune. “Why limit ourselves when there are 252 different potential destinations to choose from?”
For over a decade, Henderson has been assisting affluent clients, primarily from the U.S., in obtaining dual citizenship or residencies in various countries around the world. He offers advice on international tax laws, visa-free travel, and other relevant aspects. Working with a network of experts globally, Henderson provides exclusive information on golden visa and passport opportunities that are not easily accessible elsewhere.
Many Americans express interest in countries like Australia, Canada, and England, which are familiar to the wealthy in the U.S. However, Henderson does not particularly favor these destinations due to higher taxes, lower salaries, and escalating housing costs in cities like London and Vancouver. Moving to these countries without a job, a spouse who is a citizen, or substantial investment funds is not straightforward.
“Americans often mistakenly believe they are uniquely special. In reality, it’s the opposite,” Henderson explains. “Americans may assume, ‘Why wouldn’t they want my American money?’ The reality is that there are numerous individuals with significant financial resources nowadays.”
Henderson assesses countries based on their tax systems and cost of living, with a preference for lower expenses. Recently, he has shown enthusiasm for Oman, a Middle Eastern nation located at the bottom of the Arabian Peninsula. Despite potential drawbacks like reduced democratic freedoms and restricted freedom of speech, Henderson highlights the country’s other advantages.
“It may not appeal to everyone,” he acknowledges. “But for families seeking safety, security, conservative values, open-mindedness, good weather, and favorable taxes, it’s a cost-effective alternative compared to Dubai.”
For those considering Mexico as a more practical option than Canada, Henderson recommends it for its lower cost of living and easier relocation process. Americans have increasingly been moving to Mexico City in recent years.
In 2017, Henderson renounced his U.S. citizenship and has since assisted clients in moving to around 33 countries while accumulating data on approximately 100 nations. He charges an initial planning fee of $28,000, in addition to advising clients on the necessary fees and investments for securing visas or citizenship in a new country, which can range from hundreds of thousands to millions of dollars.
For most clients, the goal is not to completely sever ties with the U.S. but to obtain residency or investor visas in other countries. Typically, those who express intentions of moving away from the U.S. due to political reasons do not follow through, as it takes more than a change in leadership to uproot one’s life.
Henderson’s clients are primarily self-made entrepreneurs seeking a contingency plan or enhanced mobility. Acquiring a passport from a European Union member state, for instance, enables visa-free travel across all EU countries.
Encouraging individuals tired of the U.S. and committed to an expatriate lifestyle to think beyond traditional choices like France or Switzerland, Henderson emphasizes considering locations where life would be significantly different.
“Assuming that every country operates like the U.S. is impractical,” he asserts. “The crux of the matter is that people are looking in the wrong places because they are reluctant to embrace change.”
Engaging a consultancy firm or immigration attorney to explore diverse options can be beneficial, with fees varying accordingly. Henderson suggests selecting a few potential destinations and committing to living between them for at least a year initially to assess the feasibility.
“My viewpoint is that there is a geographical solution for every problem,” Henderson concludes. “I believe we are offering people a better quality of life.”
